11/02/2017 NEW YORK, November 2, 2017 – American International Group, Inc. (NYSE: AIG) today reported a net loss of $1.7 billion, or $1.91 per share, for the third quarter of 2017, compared to net income of $462 million, or $0.42 per diluted share, in the prior-year quarter. After-tax operating loss was $1.1 billion, or $1.22 per share, for the third quarter of 2017, compared to after-tax operating income of $1.1 billion, or $1.01 per diluted share, in the prior-year quarter. “In the third quarter, the insurance industry witnessed unprecedented catastrophic events. AIG’s resilience in the wake of these events reflects
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AIG Names Lex Baugh as Chief Executive Officer, North America General Insurance
American International Group, Inc. (AIG) announced on Tuesday the appointment of Lex Baugh as Chief Executive Officer, North America General Insurance. In this newly created role, Mr. Baugh will oversee AIG’s U.S. and Canada General Insurance business, with responsibility for the development and execution of a profitable, client-focused strategy. He will report to Peter Zaffino, Chief Executive Officer, General Insurance, as a member of the General Insurance Executive Leadership Team. The appointment is effective immediately. Most recently, Mr. Baugh served as President of Liability and Financial Lines at AIG, overseeing the largest part of the global Commercial portfolio. Prior to
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AIG Operations: Service Improvement Plan, Final Update & What’s Next
Service Improvement Plan: Final Update, and What’s Next Earlier this year, we recognized there were challenges with our new business turnaround times and other service issues — and we committed to getting them right for you. While we’ve made great strides, we recognize that we have more work to do. We promised that by September 30 we would meet or exceed standard times for our Service Level Agreement and establish a path to future improvements. Thanks to your support and partnership, we’ve improved turnaround times across the board. We’re also positioned for additional improvements as we continue to add resources,
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Important Information for Insureds Living in Florida
At American General Life Insurance Company (AGL), our first priority is the welfare of our customers. In response to challenges created for Florida residents by Hurricane Irma, we are working with state regulators to support affected clients during this difficult time. Effectively immediately, a temporary suspension is in effect on lapses, terminations, cancellations and other time-sensitive provision requirements of the insurance policies or annuity contracts for all insured AGL customers residing in the state of Florida. This suspension includes all counties in the state. This action is taken to protect the policyholders from unintentional termination. We will process other requests
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AIG: Producer Sales Practices Manual Updated
Producer Sales Practices Manual Updated Guidelines and procedures in the “Producer Sales Practices Manual,” formerly known as the “Compliance Manual,” have been updated and consist of additional: DOL, Elder & Vulnerable Client Protection, STOLI/IOLI, Do Not Call Requirements, AIG Company Information Protection, and Prohibition on Pretext Interviews sections, as well as Complaints Section revision. Please click below to review in detail. Compliance Manual #goldencareagent #aig
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AIG: Hurricane Irma: Update September 12, 2017
Hurricane Irma: Update September 12, 2017 There have been widespread reports of wind damage, flooding, and power outages in several Southeast states due to the impact of Hurricane Irma. As of Tuesday morning (9/12), the storm had been downgraded to a tropical depression and was expected to continue to lose strength as it moved northward. An immediate priority has been the safety and well-being of the small number of our employees and their families in areas where Irma has caused damages and created disruptions. We do not expect that Irma will have an impact on AIG Life Operations, or on
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CORRECTED Harvey Update: Important Information for Insureds Living in Texas
Corrected: Important Information for Insureds Living in Texas Note: This email was distributed earlier with incorrect dates for the temporary suspension period. Please see corrected dates below. We apologize for the inconvenience. Effective immediately, a temporary suspension is in effect on lapses, terminations, cancellations and other time-sensitive provision requirements of the insurance policies or annuity contracts for insured customers residing in a county declared a federal or state disaster area in Texas. This is to protect the policyholders from accidental termination. We will process other requests to help them in as timely a manner as possible. The temporary suspension applies
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AIG Product Portfolio Changes
September 2017 Streamlining Product Portfolio We are proud to offer a robust and highly competitive product portfolio including Term, IUL, GUL and VUL Life products. At this time, we are taking the opportunity to streamline our product portfolio by discontinuing products with low utilization. With that, effective September 29, 2017, the following products will be discontinued: AG ROP Select-a-Term — (Policy Form 14220, ICC14-14220) Elite Index II — (Policy Form 13717, ICC13-13717) Transition Rules: AG ROP Select-a-Term and Elite Index II Transition Rules Effective September 29, 2017 the AGL versions of ROP Select-a-Term and Elite Index II products will be
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AIG Operations: Service Improvement Plan Hits Key Milestone
Service Times Cut By More Than Half … And More Improvements Are On The Way Several months ago we announced an ambitious undertaking to transform our service model with the goal of improving your experience and the quality of work delivered, and reducing turnaround times. Our pledge was that by June 30, we would be within time standards of our service level agreements (SLAs) for our key functional areas. We pursued this goal by adding and training new staff, reviewing and improving our processes, implementing system enhancements, and having departments work overtime to deliver on our promises. As a result
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Now Available On AIG Forms Depot: A New Look, Improved Features!
Effective March 3, 2017, we’ve made changes to Forms Depot that make it faster, easier, and more convenient to find and order forms, and to browse and share items from our large catalog of marketing materials. What’s New on Forms Depot? Enhanced interface: You’ll see more options on the home screen to find the form or collateral you need. Advanced search capabilities: In addition to the standard search by Service Type, State, etc., users can now review and search by Favorites, Featured Items, Previous Orders, and Recently Viewed. Users can also launch a new search directly from the Search Results
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